Rinse the rice with water and soak it in ½ cup of water for 15-20 minutes.
Drain the water and mix the rice with ghee. Set aside.
Heat milk in a heavy bottom pan over medium-high heat and bring it to a boil. Stir very frequently to avoid the milk from scorching at the bottom of the pan.
Once the milk comes to a boil, reduce the heat to low.
Add the rice to the pan and cook until the rice is nicely cooked and the payesh has thickened (35-40 minutes). Stir frequently while cooking.
Add sugar and cook for another 3-4 minutes.
Add cardamom powder and mix well.
Check for sugar and add more if needed.
Garnish the payesh with cashew nuts, pistachios, and almonds. I also like to use some dried rose petals for a pop of color.
Serve hot or chill for a few hours before serving.
Video
Notes
Traditionally Gobindobhog rice is used to make payesh but if it's not available, you can use any fragrant short-grain rice.Add the sugar only when the rice is nicely cooked and at the end of cooking. Adding sugar before prevents rice from cooking.